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Intellectual Property Rights (IPR) play a central role in protecting and commercializing innovations in the modern knowledge-driven economy. They ensure that the creators and inventors of new ideas, products, and processes receive recognition and financial returns for their efforts, while also encouraging further creativity and technological advancement. Intellectual Property (IP) instruments are the legal mechanisms that secure these rights, and they can be categorized into several types depending on the nature of the intellectual creation. The major categories include patents, trademarks, copyrights, industrial designs, geographical indications, trade secrets, and newer forms of protection such as semiconductor layout designs and plant variety protection. Each of these categories serves a specific function in safeguarding intellectual assets and enabling technology commercialization. Patents are one of the most significant IP instruments, particularly in the field of technology commercialization. A patent grants an inventor exclusive rights to make, use, sell, or license an invention for a limited period, generally 20 years from the date of filing. The invention must be novel, involve an inventive step, and be capable of industrial application. Patents are crucial for technological innovation because they allow inventors to recover the _______ ____ __________ ___ _______.
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